The trend remains strong, with the market currently oscillating between 115,000 and 120,000 below the 120,000 mark, and it is relatively normal for the lower limit to be around 110,000. From the liquidation map, long liquidation points are concentrated around 112,500-115,000, while short liquidation points are concentrated around 118,000-122,000. Under the current conditions, there is a greater need to liquidate shorts, with the potential to briefly touch around 118,800 in the near term. However, from the adjustment trend perspective, the upside remains constrained.